U.S. Housing Market
Mortgage Application Activity Takes a 0.6% Uptick
Among the federal programs, the FHA share of total applications increased to 19.4% from 18.5% the week prior. Continue Reading Mortgage Application Activity Takes a 0.6% Uptick
The Best Day for Buying a House Is…
Buyers who close on Christmas Eve enjoyed the lowest premium above the automated valuation model. Continue Reading The Best Day for Buying a House Is…
Kentucky Home Sales Rise Amid Wider Number of New Listings
The median sales price during the month was $279,000, up 6% month-over-month and up 3.4% year-over-year. Continue Reading Kentucky Home Sales Rise Amid Wider Number of New Listings
Ginnie Mae MBS Portfolio Reached $2.76 Trillion in May
Year-to-date, Ginnie Mae facilitated the pooling and securitization of 268,000 loans for first-time homebuyers. Continue Reading Ginnie Mae MBS Portfolio Reached $2.76 Trillion in May
California Home Sales, Median Price Down in May
Total active listings in May rose on a year-over-year basis by nearly 50%. Continue Reading California Home Sales, Median Price Down in May
After this week’s Fed rate hike, where are mortgage rates headed?
Source: CNN Business --- Washington, DCCNN — The Federal Reserve hiked its benchmark lending rate this week for the seventh time this year, capping a year of intense pressure on the housing market that pushed mortgage rates above 7% for the first time since 2002. But...
The Dallas Fed just said US home prices could plunge another 20%. Should I wait for the bottom to buy a house or bite the bullet now?
Source: Yahoo! Finance --- Buying your first home involves a certain amount of strategy. Trying to time your purchase based on the market’s ups and downs can sometimes feel like a game. But over the last few months, that game has been far less fun for hopeful...
Homebuilder Lennar guards against ‘inventory overhang’ as housing market slowdown continues
Source: Yahoo! Finance --- Lennar (LEN) reported a slowdown in new home orders in its fourth-quarter as the housing market remains in correction mode. Lennar said this week new home orders dipped 15% year-over-year in the fourth quarter, reaching 13,200 homes, beating...
These Cities to See Biggest Price Drops Amid Talk of Housing Market Crash
Source: Newsweek --- Experts believe that the housing market is currently in the midst of a correction after the past couple of years saw soaring mortgage rates and heavy inflation, as well as major increases in housing prices. Though there have been warnings that the...
Home Prices Might Plunge in 2023. But Here’s Why We Won’t Have a Housing Market Crisis on Our Hands
Source: The Ascent --- There's a reason it's been a major struggle for home buyers -- particularly first timers -- to break into the real estate market. Housing inventory has lacked in a serious way, and any time there's more demand than there is supply of a given...
Housing Market May Get Some Relief as Fed Eases Rate Hikes
Source: Newsweek --- The Federal Reserve voted to raise interest rates by half a percentage point on Wednesday, a slightly scaled-down increase after several consecutive hikes of .75 percentage points. The hikes have all been part of an attempt to ease soaring...
Housing market predictions: Six experts weigh in on the real estate outlook in 2023
Source: USA Today --- If “hot” was the overused word to describe the U.S. housing market in 2021, then lukewarm to outright freezing might best describe how the market fared overall this year. The pandemic housing market boom, which saw home prices go up by 40% over...
What to watch for in the housing market in 2023
Source: The Hill --- Amid a housing market plagued by high mortgage rates, inflation woes and recession fears, housing prices in the U.S. are expected to fall next year, though the market isn’t likely to see a jump in buyers as a result. Forecasters indicate 2023...
Mortgage rates drop after CPI report, but the housing market is far from out of the woods
Source: CNBC News --- The average rate on the 30-year fixed mortgage dropped to 6.28% Tuesday, according to Mortgage News Daily. It is now at the lowest level since mid-September. The decline came after a lower-than-expected reading of November’s consumer price...
As US home prices decline, number of buyers with underwater mortgages swells
Source: Fox Business --- An alarming number of new homeowners are discovering they owe more on their mortgage than their home is worth as surging interest rates send housing prices spiraling down. About 250,000 Americans who took out a mortgage this year to buy a...
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